Tianhong CSI Computer Theme ETF(159998) Drops 4.69% Intraday,Institutions: Computing Power Shortage to Release at an Accelerated Pace

NewTimeSpace News: As of 14:11 on March 23, 2026, the CSI Computer Theme Index (930651) dropped 4.60%. Among its constituent stocks, Cloudwalk Technology led the decline with a 7.55% drop, ArcSoft Technology fell 7.19%, NavInfo slid 6.91%, China Great Wall dropped 6.90%, and Shenzhen Kaifa Technology fell 6.72%. The Tianhong CSI Computer Theme ETF(159998) declined 4.69% to a latest price of RMB 0.96. Over a longer time frame, as of March 20, 2026, the Tianhong CSI Computer Theme ETFhad a cumulative increase of 3.09% in the past three months. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

In terms of liquidity, the Tianhong CSI Computer Theme ETFrecorded an intraday turnover rate of 4.05% with a trading volume of RMB 90.4355 million. Looking back, as of March 20, the average daily trading volume of the Tianhong CSI Computer Theme ETFstood at RMB 116 million in the past year.

In terms of scale, the Tianhong CSI Computer Theme ETFsaw a notable growth of RMB 54.6342 million in scale over the past three months, ranking the first among two comparable funds in terms of newly added scale. (Data source: Wind)

Data showed that leveraged funds have been continuously building positions in the ETF. The latest margin purchase volume of the Tianhong CSI Computer Theme ETFhit RMB 5.4170 million, with the latest margin balance standing at RMB 23.5928 million. (Data source: Wind)

As of March 20, the net asset value (NAV) of the Tianhong CSI Computer Theme ETFhad risen 25.48% in the past two years. In terms of earnings capacity, as of March 20, 2026, since its inception, the ETF has achieved a maximum monthly return of 33.20%, a longest consecutive monthly gain streak of 4 months with a cumulative increase of 31.07% during the streak, and an average monthly return of 7.74% in positive months. As of March 20, 2026, the Tianhong CSI Computer Theme ETFhas delivered an annualized excess return of 1.71% over the benchmark since its establishment.

In terms of drawdown, as of March 20, 2026, the Tianhong CSI Computer Theme ETFhad a relative drawdown of 0.09% against the benchmark since the start of the year, posting the smallest drawdown among comparable funds.

In terms of fees, the Tianhong CSI Computer Theme ETFhas a management fee rate of 0.50% and a custodian fee rate of 0.10%, the lowest fee level among comparable funds.

In terms of tracking accuracy, as of March 20, 2026, the Tianhong CSI Computer Theme ETFhad a tracking error of 0.007% in the past month, boasting the highest tracking accuracy among comparable funds.

From a valuation perspective, the latest price-to-earnings ratio (PE-TTM) of the CSI Computer Theme Index tracked by the Tianhong CSI Computer Theme ETFwas only 59.05 times, at the 6.67% quantile of the past year. That is, the valuation was lower than that in more than 93.33% of the time over the past year, standing at a historical low.

The Tianhong CSI Computer Theme ETFclosely tracks the CSI Computer Theme Index, which selects securities of listed companies engaged in information technology services, application software, system software, computer hardware and other related businesses as index samples to reflect the overall performance of securities of listed companies focused on the computer theme.

Data showed that as of February 27, 2026, the top 10 weight stocks of the CSI Computer Theme Index (930651) were Sugon Technology, iFlytek, Hikvision, Runze Technology, Flush Information Network, Kingsoft Office, Inspur Information, Siconnex Data Technology, Unisplendour Corporation and Wangsu Science & Technology in sequence, with the combined weight of the top 10 stocks accounting for 45.4%. (The stocks listed above are only constituent stocks of the index and do not constitute any specific investment recommendation.)

SINOLINK SECURITIES stated that 2026 will be a crucial year for China's computing power demand to transform from "cloud-side training" to a dual-drive model of "training + inference". Driven by more modalities and broader scenarios, the computing power shortage will be released at an unprecedented speed.

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